DJ SWEF: August 2023 NAV Starwood European Real Estate Finance Ltd (SWEF) SWEF: August 2023 NAV 19-Sep-2023 / 07:00 GMT/BST=----------------------------------------------------------------------------------------------------------------------
Starwood European Real Estate Finance Ltd 19-Sep-2023 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- Starwood European Real Estate Finance Limited Net Asset Value, 31 August 2023 This announcement contains price sensitive information.
As at the close of business on 31 August 2023 the unaudited net asset value of the Company's Ordinary Shares was 103.72p . Please refer to the Reconciliation of NAV per share movements below for more information. Net Asset Value in total: Loans advanced GBP312.5m Cash and cash equivalents GBP54.2m Financial assets at fair value through profit or loss GBP3.7m Borrowing facilities GBP0.0m Other net assets/ Net assets GBP370.1m The Cash and cash equivalents balance in the table above includes a cash reserve to cover undrawn loan commitments in the portfolio, totaling GBP44.9 million, as set out in the table below. Capital amounts drawn as at 31 August 2023 and amounts committed but undrawn as at 31 August 2023 is shown below. Local Currency Sterling Amounts drawn GBPm GBP191.8m GBP191.8m Amounts drawn EURm EUR138.0m GBP118.0m GBP309.8m Committed but undrawn cash amounts GBPm GBP44.0m GBP44.0m Committed but undrawn cash amounts EURm EUR1.1m GBP0.9m GBP44.9m The balances shown corresponds to cash advanced. These amounts exclude interest to be capitalised. The difference between amounts drawn in the table above and"Loans advanced" in the first table is accrued income.August 2023 NAV at the beginning of period 103.12 Operating Income available to distribute 0.68 Realised FX gains / not distributable Unrealised FX gains / NAV at the end of the period 103.72 Operating Income available to distribute comprises loan income recognised in the period less the cost of debt facilities utilised by the Group and operating costs incurred. The Operating Income available to distribute also includes any realised foreign exchange gains or losses upon settlement of hedges, except those described in note 4. On occasion, the Group may realise a gain or loss on the roll forward of a hedge if it becomes necessary to extend a capital hedge beyond the initial anticipated loan term. If this situation arises the Group will separate the realised FX gain or loss from other realised FX gains or losses and not consider it available to distribute or as a reduction in distributable profits. The FX gain or loss will only be considered part of distributable reserves or as a reduction in distributable profits when the rolled hedge matures or is settled and the final net gain or loss on the capital hedges can be determined. The August reconciliation of NAV above shows the reversing of such an FX gain following the repayment of one such loan. The gain previously separated is now included in the Operating Income available to distribute. Unrealised foreign exchange gain/losses relate to the net impact of changes in the valuation of foreign exchange hedges and the sterling equivalent value of Euro loan investments . Mismatches between the hedge valuations and the loan investments may occur depending on the shape of the forward FX curve and this causes some movement in the NAV. These unrealised FX gains / losses are not considered part of distributable reserves.Apex Fund and Corporate Services Limited as Company SecretaryGaudi Le RouxStarwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to conduct an orderly realisation of the assets of the Company. www.starwoodeuropeanfinance.com. The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group. ----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation , transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. ----------------------------------------------------------------------------------------------------------------------- ISIN: GG00BPGJYV48 Category Code: NAV TIDM: SWEF LEI Code: 5493004YMVUQ9Z7JGZ50 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 272207 EQS News ID: 1728755 End of Announcement EQS News Service =------------------------------------------------------------------------------------ Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1728755&application_name=newsMegatrend Künstliche IntelligenzSteigen Sie jetzt ein und nutzen Sie die einmalige Chance, die Ihnen die KI-Revolution bietet! Wir zeigen Ihnen 3 ETFs für zukunftsorientierte Anleger.Hier klicken
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